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Tuesday, July 5, 2022

Stimulus Check: California Residents On Social Security To Get A Golden State Stimulus Check?

The residents need to have a minimum income of $1 and file a tax return to receive the Golden State Stimulus check, and this is where millions of beneficiaries were left out.

The state of California had approved 2 rounds of the Golden State Stimulus payments to residents across the state. The first round was targeted at those who were Earned Income Tax Credit recipients and those ineligible for federal stimulus checks.

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The second one covered all the residents who claimed something between $1 and $75,000 of AGI and also filed a tax return for 2020. This gave access to the stimulus measure to about 2/3rds of California residents. Some of the states vulnerable were left out, those whose only income was benefits excluded from AGI qualification.

Stimulus Check: How Many Social Security Holders Might Miss Out On The Golden State Stimulus?

Earned income is a limitation to receiving tax benefits at the federal or state level. Income that comes from unemployment or Social Security is a common example of this. In order to qualify for the second round of Golden State Stimulus checks the California Tax Franchise Board put out a list of income that couldn’t count toward the income requirements.

The exact number of people who will not get the Golden State Stimulus check is not known but there were 6.1m Social Security beneficiaries in California back in 2020.

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Some of the residents who get monthly benefits payments might have filed a tax return and declared some form of income in 2020. This counted toward the California AGI minimum of $1 needed to receive a Golden State Stimulus check.

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